Monday, May 16

Cardano Network Hits Record Capacity Due to SundaeSwap Launch, But Not All Users Consider It a Success By Cointelegraph


©Reuters. Cardano Network Hits Record Capacity Due to SundaeSwap Launch, But Not All Users See It as a Success

According to Blockchain Insight and pool.pm, the Cardano (ADA) network has maintained record capacity for almost two weeks due to the launch of the decentralized exchange, or DEX, SundaeSwap, the first of its kind to go live on Cardano. At the same time, the total value locked on the ADA blockchain reached a record high of approximately $80 million, despite the recent drop in the token price due to the current downward trend.

The current average load of the network blockchain stands at 93.19%, which means that almost all of its blocks are being filled. In context, the metric stood at just 32.49% on New Year’s Eve. The number of ADA wallets is also about to cross the 3 million mark.

Many ADA enthusiasts took to social media to celebrate the milestones. However, the phenomenon of the network approaching full capacity due to the addition of a single DEX raised questions about its usefulness, although scaling solutions are yet to come. Reddit user Additional_Till_838 noted:

Read the full article on Cointelegraph

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